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Dec 26, 2012
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five days out from the fiscal cliff. we will run the latest scenarios and find out what they could mean for your money. >>> first though as we mentioned, holiday sales on the disappointing side. could this set the sector back in a big way. patrick mckeevers is over at mkm partners. howard toobin is a retail analyst. >> good morning. >> patrick, let me start with you and ask whether this recent set of data, which is essentially capturing the whole season, came as a surprise? because i haven't seen too many tracking polls, so to speak, that would suggest that the season is as weak as this says. >> not a surprise to me. i cover the discount store space so i do cover walmart, target, tjx, so on and so forth. >> what did you see? >> what i saw was pretty weak traffic. a good black friday followed by a pronounced lull in spending. and a decent pickup into the -- into christmas, but just not enough to make up for some of the earlier weakness. target, for example, there was a lot of excitement about the company's partnership wit
five days out from the fiscal cliff. we will run the latest scenarios and find out what they could mean for your money. >>> first though as we mentioned, holiday sales on the disappointing side. could this set the sector back in a big way. patrick mckeevers is over at mkm partners. howard toobin is a retail analyst. >> good morning. >> patrick, let me start with you and ask whether this recent set of data, which is essentially capturing the whole season, came as a surprise?...
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Dec 28, 2012
12/12
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>> first came the fiscal cliff, now they're calling this the container cliff. it's a potential strike that could shut down more than a dozen ports, all the way from maine down to texas, including the port of new york in new jersey, which you can see a piece of which behind me. and negotiations broke down earlier this week and there's been no progress made in talks since then. but i want to talk about what's at stake, if the 14,000 longshoreman do walk out tomorrow night. it could have a devastating impact on the retail sector. now, the new york and new jersey port is just one port that could be impacted by this. it's the second largest port to handle manufactured goods from china. it's also the largest port on the east coast. now, last year this port handled $208 billion in cargo. we're talking about products like furniture and also apparel. in 2002, we saw a west coast port lockout. estimates suggest that that cost the economy $1 billion a day. and as with the fiscal cliff, there's a political angle with the container cliff as well. business groups are asking
>> first came the fiscal cliff, now they're calling this the container cliff. it's a potential strike that could shut down more than a dozen ports, all the way from maine down to texas, including the port of new york in new jersey, which you can see a piece of which behind me. and negotiations broke down earlier this week and there's been no progress made in talks since then. but i want to talk about what's at stake, if the 14,000 longshoreman do walk out tomorrow night. it could have a...
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Dec 24, 2012
12/12
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over the weekend, is there a plan c on the fiscal cliff floating around. the only offer that's really on the table, and i hate to get so simplist simplistic, was the president's offer. he mentioned it at the press conference late friday afternoon, and that's raise taxes on the top 2%. that's basically the offer on the table. there's a lot of people trying to throw in a lot of spending cuts into a so-called plan c, raise the medicare eligibility age from 65 to 67. that's really an afterthought going in right now. the president's offer is the one on the table right now. at this point the choices are getting very, very narrow. i didn't hear do nothing. i didn't hear about a grand bargain. the other big thing over the weekend, i was getting a lot of e-mail about, is when will the treasury department declare they've run out of the capability to borrow money. certainly by the end of february, everybody knows that. but some people think it could happen sooner than that. that will bring up the whole issues about the rating agencies coming out with warnings of a do
over the weekend, is there a plan c on the fiscal cliff floating around. the only offer that's really on the table, and i hate to get so simplist simplistic, was the president's offer. he mentioned it at the press conference late friday afternoon, and that's raise taxes on the top 2%. that's basically the offer on the table. there's a lot of people trying to throw in a lot of spending cuts into a so-called plan c, raise the medicare eligibility age from 65 to 67. that's really an afterthought...
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Dec 27, 2012
12/12
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>>> we will start off with news about the fiscal cliff. congress returning to capitol hill today to try to get a deal done on the cliff before the deadline on december 31st. senate majority leader harry reid is working to see if the scaled backpackage the president laid out last week can get through congress before monday. meantime, treasury secretary timothy geithner says the government will hit the debt ceiling on monday and he is launching an emergency plan to avert a crisis. amm eamon javers is live. what do we know? >> the president is coming back early, a couple days earlier than his vacation. did a little bit of jogging, working out in the gym over his vacation. now he will be,ing would out on this fiscal cliff. the senate is coming back and the house of representatives is going to have a conference call for all republicans later on today and then yesterday, we saw the secretary of the treasury, tim geithner, announced the $16.4 trillion debt limit is going to be reached by monday, that was a little bit surprising to people who have
>>> we will start off with news about the fiscal cliff. congress returning to capitol hill today to try to get a deal done on the cliff before the deadline on december 31st. senate majority leader harry reid is working to see if the scaled backpackage the president laid out last week can get through congress before monday. meantime, treasury secretary timothy geithner says the government will hit the debt ceiling on monday and he is launching an emergency plan to avert a crisis. amm...